According to FVP Trade, it is a “globally licensed CFD broker that offers clear pricing, quick instruction, and cutting-edge charting tools.” But fact-checking reveals that this is untrue. FVP Trade lacks both the legal authorization and even the technological capabilities required to provide brokerage services.
Is FVP Trade a Licensed Broker?
You may anticipate seeing comprehensive information on the owning firm and its regulatory status, several contact options, and required disclosures regarding the danger of trading financial instruments on the homepage of a licensed broker’s website.
The FVP Trade home page doesn’t show any of this. The only method to get in touch is via email because there is no address or name of a formal business. Only after providing an email address during the account registration procedure can we have access to the Terms and Conditions and other legal documents.
The legal paperwork pertains to a business named FVP Trade Limited, whose headquarters are allegedly in the British Virgin Islands (BVI).
Brokers in the BVI are only required to fulfill minimal net capital requirements because it is an offshore country. This goes against the FVP Trade’s assertions that it is a licensed broker.
However, a search of the Financial Services Commission’s database for the British Virgin Islands revealed that neither FVP Trade nor FinVoyage Perpetual Limited are listed as registered brokers.
Why Should Not You Trust an Unlicensed Broker?
If you invest in an unlicensed broker or company, you might not get any kind of security support if they have any problem. A licensed broker always secures their investment by providing insurance security to their clients.
Can FVP Trade Be Trusted?
With a broker like FVP Trade, your odds of generating money are quite slim. Investors are being led to believe that it is appropriately regulated when in fact this is a lie.
Warnings From Financial Regulators
Their are several warnings from financial regulators, also, most of them are from those which’s name is mentioned by FVP.
What Do Traders Think Of FVP Trade?
From several forums and social media comments, we have confirmed that traders are also aware about this scam. They are spreading the scam news with real life case study.
Platform Offered by FVP Trade
The trading platform used by FVP Trade is MT4, one of the most well-regarded pieces of software available. Numerous charts, indicators, and complex trading tools, such as EAs, are available on the site.
Despite having a great platform, keep in mind that you’re working with an unauthorized trading company, therefore your money is still in danger.
Country Serving by FVP Trade
It appears that the FVP Trade trading fraud is well-known. We discovered feedback from: France, Singapore, Canada, US, Australia, Vietnam, India, Brazil, South Korea, and Italy.
FVP Trade Range of Trading Markets
FVP Trade states that it offers trading in indices, metals, currency, and “many other instruments.” However, neither a comprehensive list of these increments nor any information on the terms of trade are provided on the website. A reliable broker’s website will offer suggestions for various trading accounts that are acceptable for investors with various tastes, as well as full explanations of trading criteria such as the minimum deposit, order execution method, leverage, spread, swap, and fees.
Minimum Deposit and Withdrawal Terms of FVP Trade
FVP Trade doesn’t offer any details on payment options or transaction costs. A wide range of open payment options, including as bank transfers, credit/debit cards, and well-known e-wallets like PayPal, Skrill, and Neteller, are frequently made available to customers by trustworthy brokers. Because cryptocurrency transactions are not susceptible to returns, scammers typically favor them.
The only price mentioned in the legal documents is ten dollars ($10) for accounts that have lain dormant for more than a year.
Ways to Make a Deposit
Credit/debit cards, bank wire transfers, online banking services like giropay, iDEAl, Sofort, and BPay, as well as e-wallets like Skrill, Neteller, FasaPay, WebMoney, and SticPay are all supported by FVP Trade.
Victim of FVP Trade Scam? Report Your Story To Us.
There are few options available to you for recovering your money. You can ask for a chargeback if the scammers utilized credit or debit cards for their purchases. Such inquiries can now be made up to 540 days after the transaction by companies like Visa and MasterCard. But be aware that the scammers could contest that the transaction was voluntary if you have given them proof of your identity. In these kinds of cases, just contact us to get your money back.